This week, Saskatoon real estate sales saw a small upward bounce growing by seven to reach 113, to finish lower than the same week last year by 20 units.
The new listing activity reached its highest point for any week this year as 220 home sellers offered their homes for sale on the MLS®. That’s up 46 from last week, but down 73 listings on an annual basis.
The number of homes for sale in the Saskatoon MLS® grew for the fourth consecutive week. By the close of business Friday, total inventory was at 1060, for a weekly gain of 27, and an annual drop of 377 homes.
In the mix, we have 535 single-family homes, down two from last week’s close, and lower annually by 144. Available Saskatoon condos for sale grew from 423 last week to 449 to finish the week lower on a year-over-year basis by 223.
30-day sales fell lower for the second week in a row, falling by just one compared to the previous period to settle at 491.
“Months of inventory” grew in two of the three categories we track.
All residential - 1060 active listings / 491 sales = 2.2 month supply (up by 0.2 months from last week).
Single-family homes - 535 listings / 287 sales = 1.9 month supply (same as last week).
Condos - 449 listings / 183 sales = 2.5 month supply. (up by 0.1 months from last week).
After a bit of a break last week, activity in the Saskatoon luxury home market took an upward bounce that pushed both the weekly median price and the average sale price substantially higher. Those measures reached $365,000 and $388,433 respectively.
The six-week average remained stable for the third week in a row, It sits at $370,279 which is about 5K lower than it was at the close of the same week last year.
The four-week median price fell lower from last week by almost 13K. It closed the week at $350,000 which is lower than it was for the same week last year by twenty thousand dollars.
This week, the number of Saskatoon homes that sold over the asking price slipped lower to 26. On average, those homes saw an average overbid of $15,287. Meanwhile, 68 sales were reporting a sale price that was below the seller’s asking price by an average of $12,329.
Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that this chart may show over-list price sales, even when I have reported the number as 0. Those sales are typically new properties that spent some period of time on the market, and most likely sold and included additional improvements that were not reflected in the original list price. For example, a new home listed at $450,000 sells at a price of $490,000 after 120 days on the market may have included a basement development that was not anticipated in the listing price. We report these to you as “at list price sales”, which is likely too generous in some cases, but it’s simply not practical to obtain the full details of each sale. A description of the geographic boundaries of areas 1 through 5 is here.
More weekly stats and numbers for those who love them.
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